Workers' Compensation
What is it?
Frontier Risk's Workers' Compensation Insurance covers cannabis businesses' expenses for employees injured due to work-related activities, offering wage replacement and medical benefits. This insurance is mandatory for U.S. cannabis businesses with employees.
Why is it important?
Workers' compensation insurance is essential because the cost of the top 10 disabling workplace injuries reached nearly $48.15 billion for U.S. businesses in 2023. Nearly all 50 states mandate carrying this insurance, and 83% of private-sector companies purchase it, which boosts employee morale and enhances the company's reputation.
What does it cover?
Medical Expenses
Covers medical treatments, hospitalization, prescription medications, and rehabilitation services for injured employees.
Lost Wages Replacement
Provides compensation for a portion of an employee's lost wages during their recovery period.
Vocational Rehabilitation
Offers support for injured employees to regain their ability to work through vocational training and rehabilitation programs.
Death Benefits
Provides benefits to the family or dependents of employees who tragically lose their lives due to work-related incidents.
Why Frontier Risk?
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Common Questions
Independent contractors are typically not covered by Workers' Compensation. However, classification criteria can vary, so it's important to accurately determine employment status.
Workers' Compensation generally covers injuries or illnesses that arise out of and in the course of employment. Some exceptions apply, such as injuries from horseplay or substance abuse.
In many jurisdictions, Workers' Compensation is legally mandated for businesses with employees. It's important to verify the specific requirements in your location.